Dhaka, Bangladesh (BBN)– Stocks at both the bourses – Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – bounced back on Monday after experiencing moderate losses on Sunday, the opening day of the week.
Dhaka stocks edged higher on the day amid volatile trading throughout the session with declining turnover value as large amount of sponsors-directors purchase order helped to end positive terrain.
The market witnessed volatility in the first three hours. But lately, purchase orders by sponsor-directors helped to lift the sentiment and finally ended 55 points higher.
The DGEN, the benchmark general index of the Dhaka Stock Exchange (DSE), rose 55.34 points or 1.10 per cent to close at 5,057.15.
“The benchmark Index DGEN was hovering around psychological level of 5000 points with decreased turnover for the last four trading sessions and investors’ remained skeptical on the next probable direction of DGEN amid forthcoming deadline of SEC’s circular on minimum share holding,” IDLC Investment Limited said in its daily market analysis.
The day’s turnover shrank to BDT 3.48 billion, down by 10.76 percent over the previous session’s BDT 3.90 billion.
Gainers outshined the losers as out of 259 issues traded, 176 closed positive, 64 negative and 19 remained unchanged.
LankaBangla Finance continued to top the turnover chart with shares worth BDT 198.59 million changing hands.
The other turnover leaders were City Bank, UCBL, Beximco Limited, Meghna Petroleum, Jamuna Oil, Padma Oil, Peoples Leasing, Beximco Pharma and Grameenphone.
AB Bank First Mutual Fund was the day’s highest gainer posting a rise of 9.89 per cent.
It was followed by Phoenix Insurance, LR Global First Mutual Fund, UCBL, Reliance One, AIBL First Mutual Fund, MBL First Mutual Fund, Peoples Leasing, GQ Ball Pen and Standard Bank.
Padma Oil was the day’s worst losers and lost 28.19 percent as its share trading resumed after more than one year following legal issue.
It was followed by Dhaka Insurance, Northern Jute Manufacturing, BGIC, Asia Insurance, Fourth ICB, Meghna Condensed Milk, Anwar Galvanizing, Third ICB and Purabi General Insurance.
On the other hand, the CSE key index, CSCX, showed a gain of 123.75 points to close at 9553.4831 after the end of day’s four-hour trading.
The CSE key index, CSCX, closed at 9429.72 losing 159.32 points on Sunday while it gained 319.76 points on Thursday though it lost 331.73 points on Wednesday.
At the CSE, 123 gained, 44 suffered losses and 9 remained unchanged at the end of the day’s trading.
BBN/SSR/AD-15May12-9:20 am (BST)